SGB Update Apparel
Consumer Confidence Index Flat in March, but Outlook Index May Signal Trouble Ahead
The Consumer Confidence Index was 104.7 in March, essentially unchanged from February. But the Expectations Index, based on consumers’ short-term outlook for income, business and labor market conditions, fell to 73.8, which is in recession territory.
NRF: Economy Remains ‘Sturdy’ Despite Forecast for Slower Growth
Adjusted for inflation, GDP is expected to grow about 2.3 percent year-over-year, slower than last year’s 2.5 percent but still strong enough to sustain job growth that drives consumer spending.
Sportsman’s Warehouse Posts DD Same-Store Sales Decline in Q4; Swings to Loss
The retailer reported lower-than-expected Q4 sales for the 14-week period ended February 3, but indicated it was successful in reducing excess inventory. Same-store sales decreased 12.8 percent on a 13-week comparable basis.
G/Fore Arrives in the Big Apple
The pop-up retail space at 536 Madison Avenue is said to be consistent with the company’s locations in Scottsdale, AZ and Palm Beach, FL.
Oros Labs Secures $22M in Series B Funding
The thermal solutions company serves an array of dual-use applications. The funding round was led by Airbus Ventures.
Hurley Names New Licensee for Women’s Sportswear and Activewear
Hurley, owned by Bluestar Alliance, named Mamiye Brothers the new licensee for its women’s sportswear and activewear lines, commencing its Spring 2025 collection.
Salomon Adds Softgoods-Specific Sales Agencies to NA Team
The brand added a softgoods-specific sales team within its North American organization to support accelerated growth focused on footwear, apparel and gear.
Puma to Open Puma Studio in Los Angeles in Early 2025
Puma Studio, when complete, will be a creative space that brings the brand’s design and marketing teams closer to the most influential communities and celebrities to inspire products and campaigns for the strategically important U.S. market.
March Manufacturing PMI at 50.3 Percent; Textile Mills Lead Sector with Growth
A Manufacturing PMI above 42.5 percent, over a period of time, generally indicates an expansion of the overall economy.
Rally House Opening Four New Store in Pennsylvania, Ohio and Illinois
Rally House opened in the Philadelphia region at Trainers Corner in Quakertown, PA. In Ohio, the retailer is open at Spring Meadows, west of Toledo, and Marketplace at Four Corners, just south of Cleveland. Rally House is also the newest tenant at the Fashion Outlets of Chicago.
Authentic Brands Group Appoints Head of Australia and New Zealand
The company appointed Lim Mi-Kyoung as SVP, head of Australia and New Zealand, reportedly overseeing its regional expansion, focused on brand development and driving long-term growth.
Augusta Sportswear Brands and Founder Sport Group Merge to Form Momentec Brands
Momentec Brands also announced several additional leadership changes to take effect April 1, 2024. In addition to senior leadership team appointments, FSG CEO John Anton will be CEO of Momentec Brands, and ASB CEO David Elliot will serve as vice chairman.
Moody’s Affirms Topgolf Callaway’s B1 Ratings, but Outlook Now Negative on EBITDA Concerns
The ratings agency said leverage is elevated due to weaker consumer demand at Topgolf than was expected a year ago and due to the company’s rapidly growing lease obligations to support the new Topgolf facility development.
Reima North America Appoints New Sales Director
Mayon Sargent was, most recently, an independent consultant for Skagit Investments. Previously, she was the director of sales for the West region at American Outdoor Brands. Before AOB, Sargent was VP of sales and marketing at Sierra Bullets and Barnes Bullets.
Report: 2023 Resale Grew 15X Faster than Retail
A new study found that 60 percent of consumers shop for secondhand apparel, giving them more for their money, while 55 percent said they would spend more on secondhand clothing if the economy does not improve.
